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The trial balance of Pacilio Security Services, Incorporated as of January 1, Year 8, had the following normal balances: $93,708 100 22,540 1,334 250 3,600 5,130 Cash Petty cash Accounts receivable Allowance for doubtful accounts Supplies Prepaid rent Merchandise inventory (18 @ $285) Land Salaries payable Common stock Retained earnings 4,000 2,100 50,000 75,894 During Year 8, Pacilio Security Services experienced the following transactions: 1. Paid the salaries payable from Year 7. 2. Purchased equipment and a van for a lump sum of $36,000 cash on January 2, Year 8. The equipment was appraised for $10,000 and the van was appraised for $30,000. 3. Paid $9,000 on May 1, Year 8, for one year's office rent in advance. 4. Purchased $300 of supplies on account. 5. Purchased 120 alarm systems at a cost of $280 each, Paid cash for the purchase. 6. After numerous attempts to collect from customers, wrote off $2,350 of uncollectible accounts receivable. 7. Sold 115 alarm systems for $580 each. All sales were on account. 8. Record the cost of goods sold related to the sale from Event 7 using the FIFO method. 9. Billed $86,000 of monitoring services for the year. Credit card sales amounted to $36,000, and the credit card company charged a 4 percent fee. The remaining $50,000 were sales on account. 10. Replenished the petty cash fund on June 30. The fund had $12 cash and receipts of $45 for yard mowing, $28 for office supplies expense, and $11 for miscellaneous expenses. 11. Collected the amount due from the credit card company. 12. Paid installers and other employees a total of $52,000 cash for salaries. 13. Collected $115,500 of accounts receivable during the year. 14. Paid $12,500 of advertising expense during the year. 15. Paid $6,800 of utilities expense for the year. 16. Sold the land, which was purchased in 2011, for $12,000. 17. Paid the accounts payable. 18. Paid a dividend of $10,000 to the shareholders. Adjustments 19. Determined that $180 of supplies were on hand at the end of the year. 20. Recognized the expired rent for both the old van and the office building for the year. The lease on the van was not renewed. Rent paid on March 1, Year 7, for the van was $4,800. 21. Recognized uncollectible accounts expense for the year using the allowance method. Pacilio estimates that 3 percent of sales on account will not be collected. 22. Recognized depreciation expense on the equipment and the van. The equipment has a five-year life and a $2,000 salvage value. The van has a four-year life and a $6,000 salvage value. The company uses double-declining-balance for the van and straight-line for the equipment. 23. Accrued salaries at December 31 Year 8 were $1500

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The trial bolance of Pacilio Security Services, Incorporated as of January 1, Year 8, had the following normal balances: During Year 8 . Pacilio Security Services expenenced the following transoctions. 1. Paid the salaries poyable from Year 7 2. Purchased equipment and a van for a lump sum of $36,000 cash on January 2, Year 8 . The equipment was appraised for $10,000 and the van was appraised for $30,000 3. Paid $9,000 on May 1 , Year 8 , for one year's office rent in advance 4. Purchased $300 of supplies on account 5. Purchased 120 alarm systems at a cost of $280 each. Paid cash for the purchase. 6. After numerous ottempts to collect from customers, wrote off $2.350 of uncollectible accounts recenable 7. Sold 115 olarm systems for $580 each. All soles were on account. 8 . Record the cost of goods sold reloted to the sale from Event 7 using the FFo method. 9. Bdled $86.000 of monitoring services for the year credil card toles amounted to $36,000, ond the credit card company charged a 4 percent fee The remaining $50,000 were viales on account. 10. Replenished the petty cath fund on June 30 . The fund had $12 cash and rece pts of $45 for yard mowing. $28 for office supplies expense, ond Sit for miscellarieous expenses. Collected the amount due trom the credit card company 11. Collected the amount due from the credit card compony 12. Paid installers and other employeers a total of $52.000 cash for salorles 13. Colected 5115,500 of accounts recevable during the year. 14. Paid $12,500 of odvertising expense during the year 15. Paid $6,800 of utilities expense for the yeat 16. Sold the land, which was purchased in 2011 , for $12,000 17. Poid the accounts poyable 18. Paid a dividend of $10.000 to the shareholder Adjustments 19. Determinied that $180 of supplies were on hand at the end of the yeat 20. Recognized the expired rent for both the old van arid the office buliding for the year the lease on whe van was not renewed. Rent paid on March 1, Year 7, for the van was $4,800 21. Recognized uncollectible accounts expense for the year us ing the allowance method. Pacto esumates that 3 percent of salos on account will not be collected. 22. Recognized depreciation expense on the equipment and the van. The cquipment has a five year life orid o $2,000 salvage value The von has o four-yeor life and o $6,000 solvoge value The company uses double declining balance for the van and straight-ine 23 Arrnied calarips at Deremher 31 Vear 8 were sison

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